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COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71800 - 71500 levels whereas resistance is at Rs.72300 – 72600 levels.

* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.84500 - 83500 levels whereas resistance is at Rs.86500 - 87500 levels.

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6400 - 6340 levels whereas resistance is at Rs. 6560 - 6630 levels.

* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.808 – 802 levels whereas resistance is at Rs.819 - 825 levels.

CHART OF THE DAY

MCX-CRUDE OIL (DAILY CHART)

Strategy: Intraday

* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above downward trend line.

* For Intraday session immediate support is at 6400 – 6340 level and resistance at 6560 – 6630. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6560 – 6630 levels on higher side.

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